Multi-family and apartment building owners and managers often face unique challenges when it comes to insuring their properties appropriately. Each building has a varying set of needs based on its size, location, population, and construction. Wagley Agency Insurance Group will help you identify the required coverages for your property to make sure you and your tenants have the protection you need and the peace of mind you deserve.
Whether you own or manage a commercial office campus, a mid-rise building, or a modest home office, just one lawsuit or property mishap can potentially have a devastating financial and professional impact. Potential suits can arise from anywhere – whether from a tenant, a tenant’s employee, a delivery person, or a cleaner. Adequate property coverage is necessary to protect against the loss of your building and contents due to fire, theft, water damage, sewer backup, power outage, equipment breakdown, windstorm, etc.
While increased foot traffic and sales mean more revenue for a shopping center owner, it also equates to additional exposure. Malls, strip malls, and shopping centers face multiple liability exposure factors from shoppers in and around the retail and parking facilities. Wagley Agency Insurance Group will analyze, identify, and address every possible hazard in our recommended solutions.
Along with real estate investments, there are unique liabilities and factors to consider when insuring your property. Securing the right insurance coverage is vital to protecting that investment. Essential basic protections, as with standard landlord insurance, include personal liability and property damage, plus other considerations such as lost rent protection and covering unexpected vacancies while major repairs are being made.
To protect against risks that you face while managing a commercial property, general liability covers the costs of injuries and property damage. Errors and omissions (also called professional liability) cover issues relating to the decisions and actions you, as the property manager, make. Tenant discrimination insurance covers you against claims that you acted unlawfully in deciding to whom to rent your property. The insurance solutions and policies prepared by Wagley Agency Insurance Group, as a barrier of protection for your commercial property, are comprised of the following:
– Comprehensive understanding of your real estate portfolio and protection goals
– Proactive assessments of how your real estate holdings will evolve
– Commitment to balancing cost reduction and strategic protection
– Providing world-class consultative guidance and service